Plume opened its Factor credit vault, a capacity-limited pool on Plume Vaults that gives stablecoin depositors exposure to a curated book of invoice factoring and working-capital loans.
Built with Tradeable and New York credit fund Deep Ocean Partners, Factor is an actively managed book rather than a single wrapped fund: depositors get a FACTOR receipt token and hold exposure to short-dated, self-liquidating, asset-backed facilities like invoice factoring, receivables revolvers and floorplan lines. The targeted 14%+ net APY comes from capital efficiency, cycling each dollar four to twelve times a year against investment-grade obligors, not from reaching for riskier credit. Weekly liquidity is engineered from a liquid treasury sleeve, contractual collateral runoff, and a contractual buyback from the lender of record.
It targets the roughly $170 billion US factoring market and the underserved $2M to $20M ticket that banks find too small and big private-credit funds too large, turning an asset class that once needed an LP agreement and quarterly redemptions into a receipt token in a wallet. All APY figures are targets, not guarantees.
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